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A system consists of three identical components. In order for the system to perform as intended, all of the components must perform. Each has the same probability of performance. If the system is to have a 0.8 probability of performing, what is the minimum probability of performing needed by each of the individual components?
How does our financial system promote economic growth? How does our financial system differ from those countries that do not have economic growth?
Choose two macroeconomic issues that have been in the news this past week. Explain thembriefly (about two paragraphs each) so we can all understand why they have been in thenews. I.e. tell us why we should want to know about them and how they will..
When the price faced by a firm in a competitive market was $5, the firm produced nothing in the short run. However, when the price rose to $10, the firm produced 100 tons of output. From this we can infer that
If both nations reduce trade barriers and again begin to trade but now N1 exports goods into N2, but N2 has little to export into N1, what will be the nature of capital and labor flows between the two nations? Explain your reasoning.
Important model in Economics - the Supply & Demand model. The chapter talks about the differences between movement along the supply and demand curves vs. shifts of the entire curves. It lists five things that would shift the entire demand curve and f..
Explain carefully the immediate and long term effects of the event towards the economy. Draw by hand the appropriate AD-AS diagram to support your explanation.
The price elasticity of demand is a measure of how much more (or less) a consumer buys when the price of a product changes. This measurement is critical for managers to understand before deciding to change prices. Name two goods where your cross-pric..
Consider the market for electronics. Patents are granted to investors of a product or process for a certain number of years. The reason for this is to encourage innovation in the economy, without the existence of patents; it is argued that research a..
Briefly describe the Malthusian population model and explain why it is inconsistent with population data after 1750. Using a Lee-Malthus diagram(s), derive the Iron Law of Wages result. Be sure to label the curves, axis, and important points in the d..
Talk about the ramifications involved in conducting business under both/either scenario.
Assume you are looking at data for an economy that uses only two inputs, physical capital and labour. Table shows output for different combinations of labour and capital.
The elements that affect strategy formulation are the same whether a company is domestic or international. Do you agree or disagree with this statement? Why? Support your argument with examples.
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